Chase judgement nj desperate

Date: Fri, 11/06/2009 - 09:25

Submitted by shmoozjack
on Fri, 11/06/2009 - 09:25

Posts: 7 Credits: [Donate]

Total Replies: 2

I have 5 credit cards with chase. 2 of them have a combined balance of $38,000 and were sent to MRS. I made a 5 payment settlement with them at 18%. 1 had a balance of $5500 and in middle of negotiating a 15% settlement (they want it in 1 payment and I want to split it up). The remaing 2 cards have a combined balance of $54,000 and were sent to an attorney Brad Layton in Woodbridge NJ who is not willing to offer me anything below 90% and they sent me a summons. That's a total of $97,500. Aside from these I have close to another 200k in cc. I settled a BOA card of $37,000 for 15%. If Chase is going to get a judgement on me I am thinking of just screwing my other settlements and go BK. I am eligible for chapter 7 but I would love not to go that route. Any sugestions????

If you have a house they can stick a lien on, and you can exempt

If you have a house they can stick a lien on, and you can exempt that in BK7 or doa BK13, yes, do it - drop the BK bomb - or at least seriously consider the pros and cons. A BK lawyer can probably get the court date extended while you get ready to file - al IMO

lrhall41

Submitted by on Fri, 11/06/2009 - 10:33

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I also live in NJ and was served a summons, which I did answer b

I also live in NJ and was served a summons, which I did answer because the debt was never validated. Also I'm not sure of Who is sueing me. The debt was charged off in July.
I spoke toa lawyer in Legal aide and was told if a lien is placed on my house I can still barter for a reduced amount when I have the funds to pay it in one lump sum.
Regardless if you do go the BK route or have a judgment or lien it will stay on you credit report for seven years.
Hope this helps somewhat.

lrhall41

Submitted by Amber421 on Sat, 11/07/2009 - 09:22

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